Velocity Comp Regulatory News (VEL)

22 May 2008 07:00



Velti plc

Payment of Deferred Consideration for M Telecom acquisition

Velti announces that further to the acquisition of M Telecom, as announced on 23 March 2007, the Company has satisified part of the deferred consideration for the acquisition by a cash payment of €280,000 and the issue of 195,658 ordinary shares in the Company at an issue price of 162.6p per share. 

In accordance with the sale and purchase contract, there will be a further and final payment of deferred consideration which will be calculated and settled on 30 April 2008. The overall total consideration will not exceed €2.56 million.

Application has been made for these shares to be admitted to trading on AIM and dealings are expected to commence on 27th May 2008.

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About Velti

Velti's market-leading mobile marketing technology platform, coupled with its experience in the mobile advertising industry, enables clients around the world to deliver an extensive range of highly targeted marketing campaigns. With operations in 18 countries, and a mobile marketing joint venture with the Interpublic group, a top global holding group of advertising agencies, Velti has the ability to reach through its platform an estimated 1.4 billion consumers. 

Velti's unique Mobile Marketing and Advertising Platform (version 4.0) manages the full cycle of planning, execution and monitoring of multiple campaigns across differing mobile formats and channels, offering customers more than 70 mobile marketing and advertising templates, which can be managed from one user interface. 

For more information, visit www.velti.com.